- 21st May 2018
- Posted by: emy
- Category: Blockchain
Across social media forums and trading chat rooms many individuals often ask “when Lambo?” referring to the time when crypto-owners can afford to purchase one of these luxury vehicles.
A Lamborghini can cost anywhere between $200,000 and $2,200,000 depending on the model. There are many other supercar brands available; Ferrari and McLaren for example, but for some reason the Lamborghini has become the automotive maker for the crypto community.
There were Lambos lined up at the Consensus event in New York and at The North American Bitcoin Conference in Miami. Indeed, the craze has become so widespread that the rise of cryptocurrencies has helped to push up shares at VW/Audi, the parent company of Lamborghini.
Bitcoin’s exception rise in 2017 fuelled that ‘Lambo’ chat and the use of “When Lambo?” as a shorthand way of asking other crypto enthusiasts when they might be able to purchase one.
The first Lamborghini purchase with bitcoins took place in 2013, when a Lamborghini Gallardo at $209,000 was purchased for 216.8 bitcoins.
There have been numerous stories about the Lambo-Crypto love-in. Peter Saddington is one of the more famous examples. He bought bitcoin when it was $2.52 and in 2015 bought a Lamborghini Huracan for 45 BTC. In fact, it really only cost him $115, based on when he made his investment. Now, Saddington also has his own YouTube channel and the video of him buying a Lambo went viral with over 1.5 million views.
And, Pietro Frigerio, the general manager at Lamborghini Newport Beach in Costa Mesa, California, says that ever since bitcoin’s price spiked Lambo sales have followed the rise, and he made 10 sales paid for by crypto in December 2017.
Cryptocurrency fans who are HODLing for a Lambo can also look at a special Lambo-centric price ticker that pairs a Lamborghini Aventador with the price of BTC. You can keep track of the Lambo/BTC prices here.